SYSCO Co. (NYSE:SYY) Stock Holdings Increased by Cornerstone Advisors Inc.

Cornerstone Advisors Inc. raised its holdings in shares of SYSCO Co. (NYSE:SYY) by 28.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 940 shares of the company’s stock after acquiring an additional 207 shares during the period. Cornerstone Advisors Inc.’s holdings in SYSCO were worth $75,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Segment Wealth Management LLC raised its stake in shares of SYSCO by 1.6% in the 3rd quarter. Segment Wealth Management LLC now owns 8,327 shares of the company’s stock worth $661,000 after buying an additional 133 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of SYSCO by 4.5% during the third quarter. Prospera Financial Services Inc now owns 8,227 shares of the company’s stock valued at $653,000 after buying an additional 352 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of SYSCO by 46.2% during the third quarter. MCF Advisors LLC now owns 554 shares of the company’s stock valued at $44,000 after buying an additional 175 shares in the last quarter. Convergence Investment Partners LLC grew its holdings in shares of SYSCO by 4.0% during the third quarter. Convergence Investment Partners LLC now owns 10,954 shares of the company’s stock valued at $870,000 after buying an additional 417 shares in the last quarter. Finally, Howland Capital Management LLC grew its holdings in shares of SYSCO by 2.0% during the third quarter. Howland Capital Management LLC now owns 17,496 shares of the company’s stock valued at $1,389,000 after buying an additional 345 shares in the last quarter. 78.43% of the stock is currently owned by hedge funds and other institutional investors.

In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total value of $733,500.00. Following the completion of the sale, the director now owns 52,872 shares of the company’s stock, valued at $3,878,161.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian R. Todd sold 14,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $78.99, for a total value of $1,161,626.94. Following the completion of the sale, the senior vice president now directly owns 30,273 shares of the company’s stock, valued at approximately $2,391,264.27. The disclosure for this sale can be found here. Insiders sold 117,893 shares of company stock worth $9,180,771 in the last 90 days. Corporate insiders own 5.24% of the company’s stock.

A number of research analysts have recently weighed in on SYY shares. Barclays lifted their price target on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Consumer Edge started coverage on SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price target on the stock. Credit Suisse Group lifted their price target on SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Co reiterated a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $74.52.

NYSE SYY traded down $0.20 on Thursday, reaching $78.64. The stock had a trading volume of 168,224 shares, compared to its average volume of 2,301,614. The business has a 50 day moving average price of $78.13 and a 200 day moving average price of $73.18. The company has a current ratio of 1.33, a quick ratio of 0.81 and a debt-to-equity ratio of 3.25. SYSCO Co. has a 1 year low of $59.44 and a 1 year high of $79.74. The company has a market capitalization of $40.45 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.17 and a beta of 0.48.

SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. The firm had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $15.65 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that SYSCO Co. will post 3.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.39 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.98%. SYSCO’s dividend payout ratio (DPR) is currently 43.94%.

SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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